"Alford was from Tyler, Texas, and wanted to incorporate at least two items
in the name and nose art for his aircraft: 1) because the Jack Rabbit is an institution in
Texas, and 2) his almamater, the Wayland Baptist College in Plainview. Bill had too few
dollars then, to pay the artist for more, so... he decided on a "W" for his college at the
beginning of "Jack Rabbit", and ended up with WABBIT for a name. The Jack Rabbit in the
nose art wears flying goggles and is about to throw a bomb on the target, below."
From Janton's story - "The Incredible Story of 'Wabbit'"